Fresh Capital

Fab Just Raised $150M, But Their Series D Still Isn’t Done

International love.

Pivot-happy ecommerce startup Fab has raised yet another round of cash. CEO Jason Goldberg announced in a blog post that the company has just closed $150 million in new funding. Participants include Tencent, Atomico, Andreessen Horowitz, Itochu Technology Ventures, and existing investors.

What’s more, he adds, it’s “just the first part of a larger Series D round” they expect to complete over the coming weeks.

This brings two-year-old Fab’s total VC funds to $310 million. No word whether it’s all stuffed into Brillo Pad poufs and weird plant holders lying around the office. Read More

Linkages

Booting Up: Everybody’s Got an Opinion About the Tumblr-Yahoo Deal

Mr. Karp (via livestream.com)

Marco’s confident Tumblr made the right call: “This is clearly what David believes is best for his product. On such big decisions, he hasn’t been wrong yet. This time, though, I don’t have any doubts.” [Marco.org]

Dave Winer, on the other hand: “When you sell your company, no matter what promises were made, you sold it. It’s theirs now. They will do what they want to with it. Promises don’t matter.” [Scripting News]

Sounds like former Tumblr president John Maloney is just irked he’s being left out of the story. [Twitter]

Fab is reportedly raising a round somewhere in the ballpark of $250 million to $300 million, pushing the company’s valuation north of a billion dollars. [Wall Street Journal]

The Senate, meanwhile, says Apple dodged, oh, about $44 billion in taxes. [Politico]

Fab-ulous

What Flash Sales? Now Fab Wants to Be the Ikea of Design

Pre-announcement jitters.

Fab famously got traction once the cofounders pivoted from gay Yelp to design-focused flash-sales site. But now that flash sales are no longer the darling of the tech industry, Fab is moving on. Hence the company’s announcement at its kindergarten-like West Village HQ last night: “We’re going to do a little pivot again,” CEO Jason Goldberg announced.

“We’re redesigning Fab as the world’s number-one design store,” he said. “We’re going from flash sales to design store, and we’re going there in a really big way.”

That means a revamped website, products sold exclusively on Fab, brick-and-mortar stores, and the acquisition of a German company offering customizable furniture.  Read More

Linkages

Booting Up: Fab Reportedly Thinks It’s Worth a Billion Dollars Now

Let's hope this means more wacky pet products.

Fab is reportedly raising over $100 million, at a $1 billion valuation. That’s a jump from the $600 valuation the last time the company raised. [TechCrunch]

Netflix now has (just barely) more American subscribers than HBO. [Variety]

Apple Inc. is facing an identity crisis on Wall Street.” Sounds dramatic. [Wall Street Journal]

Matthew Keys, who was indicted in March for allegedly conspiring with Anonymous to hack the L.A. Times website, has been fired from his job at Reuters. Apparently they didn’t like a parody Twitter account he created, or his tweets about the hunt for the marathon bombers. [Atlantic Wire]

There’s a startup that wants to disrupt raising your hand in class, FYI. [GigaOm]

ECommerce Rules Everything Around Me

JackThreads Just Had Its Highest Sales Month Ever: ‘We Don’t Give the Store Away’

Screen shot 2013-03-07 at 9.04.27 AM

If there were a word cloud for recent ecommerce reports, it would be shaped like a mushroom cloud with “over-hyped” “implosion,” “froth,” “down rounds,” and “suck it, America, Europe does it better,” all in extra large font.

So we weren’t expecting to hear that JackThreads, the men’s ecommerce site acquired by Thrillist in 2010, had its best revenue month ever in February, even bigger than typically high-selling holiday months. Growth in new members was up 366 percent year-over-year and double the growth in number of new users joining in November and December of 2012. Read More

startup rundown

Startup News: Two Regular New Yorkers Disrupt Christmas and Alexis Ohanian Just Wants to Park His Car

"Leave me alone." (Photo: Twitter)

r/findmeaparkingspace ParkWhiz, the Chicago company that enables users to find and reserve guaranteed parking spaces before reaching their destination, today announced that it has closed a $2 million Series A round of funding led by Hyde Park Venture Partners. Reddit’s Alexis Ohanian also took place in the round along with Hyde Park Angels, Amicus Capital, and others. In a press release sent to Betabeat, the company said that since its launch in 2006, it has driven $10 million in parking revenue to parking operators and provided access to 3 million parking spaces nationwide.

Fab Goes To India Jason Goldberg, the founder and CEO of Fab, took to his personal blog yesterday to announce that his company had acquired new funding. Times Internet, the digital arm of The Times of India Group, India’s largest media company, has chosen to invest in the company. Mr. Goldberg notes in the post, “As part of this investment Fab will be working with Times Internet to explore and execute on our India market strategy in the coming years.” Since launching in June 2011, Fab has raised over $150 million from investors. Read More

Buy Local

Shopping Sites According to Their VCs? First Round Capital Showcases Exclusive Deals From Its Portfolio

Screen shot 2012-11-26 at 8.14.37 AM

Here’s a novel idea for flexing your consumerist impulses on Cyber Monday: organize your shopping by a company’s cap table. For Cyber Monday, First Round Capital, which specializes in ecommerce, has set a site that shows off exclusive deals from portfolio companies like Birchbox, Chloe & Isabel, Refinery 29, Hotel Tonight, UrbanSitter, TaskRabbit, DogVacay, One Kings Lane, and more.

Honestly, we’re surprised New York techies haven’t already set up a buy local site that encourages only shopping at startups for Christmas. Read More

startup rundown

Startup News: Barry Diller Brings Back the Big Dog and Lauren Conrad’s Site Is Sold

(Photo: flickr.com/classicchanelhandbags)

Healthy Hills? Everyday Health, the SoHo-based and more successful version of WebMd, has acquired EQAL, the creators of Lonelygirl15 and the owners of LaurenConrad.com. Everyday Health’s ad revenue grew 40 percent in the first quarter, compared to WebMD’s decline of 20 percent. This coincides with Everyday Health’s announcement that they’re moving beyond YouTube and launching a version of it’s web show “Recipe Rehab” for ABC stations around the country.

Diller Brings Back Dog Ben Silverman’s multimedia entertainment studio Electus, part of Barry Diller’s IAC, just sold ten episodes of a new show starring Dog the Bounty Hunter and his wife Beth to CMT. “Dog and Beth are not only great television characters,” said Electus CEO Chris Grant, “They are the best bounty hunters in the world, and this show is a natural evolution of their life story.” Read More